Posted by Michael (tejas) on June 21, 2001 at 01:16:39:
Hi Tim,
Well thought out reply, but since one of my points was only a few words, maybe it got lost in the shuffle.
I wasn’t taking the side, either side really, of Kiyosaki’s “poor dad”. As I said, Kiyosaki is good for pointing you in the right direction of what’s important, and that is certainly underserved in the academic world as you ably point out. I’ve got my BBA from UT and can confirm what you say.
You said the professional route is overrated in regards to wealth creation and I’ll agree as far as the general public is concerned. The general public does teach their kids the “poor dad” mindset about using academia to reach financial goals. There are numerous threads and articles on this site that denegrate college as a way to future wealth, but it’s a CANARD, a straw man argument!
This is a pet peeve of mine so forgive me, but college is not for learning to generate wealth. It’s never been and never will be. It’s never been promoted that way by the academics, only by families. Education was and still is a way to ascertain a certain level of living conditions as far as money goes, but not true wealth.
Here is the important part that the public doesn’t get: Upper education is to teach one to think critically, especially within a certain discipline. That’s it, no more. You always hear kids crying that they will never need advanced math in real life so why learn it. They are right they probably won’t use it. But there is no better way to train your mind to think logically than math. And the more powerful your logical mind is the easier you life will be for making every decision the rest of your life, from cutting through the BS of advertising to one’s romantic life.
There are people who get rich without it, but a rigorous workout of the mind by way of college would have made them even better thinkers. And this doesn’t even touch upon making you a better citizen and more interesting person because of your better understanding of America and it’s culture.
You’re right in that I didn’t consider that the poster’s question may have been more about money than financial literacy, he’ll have to clear that up. The poster wanted to get rid of his “ignorance of numbers” and I know of no better way than my suggestion.
I bet Barton Springs feels really good about now,
Michael